10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2011 | |||
CONSOLIDATED STATEMENTS OF INCOME | |||
Period Ending May 31, 2011 10-K (Filed: July 22, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2011 | May 31, 2010 | May 31, 2009 | |
| Revenues | $ 20,862 | 19,014 | 19,176 |
| Cost of sales | 11,354 | 10,214 | 10,572 |
| Gross margin | 9,508 | 8,800 | 8,604 |
| Demand creation expense | 2,448 | 2,356 | 2,352 |
| Operating overhead expense | 4,245 | 3,970 | 3,798 |
| Total selling and administrative expense | 6,693 | 6,326 | 6,150 |
| Restructuring charges (Note 16) | 195 | ||
| Goodwill impairment (Note 4) | 199 | ||
| Intangible and other asset impairment (Note 4) | 202 | ||
| Interest expense (income), net | 4 | 6 | (10) |
| Other (income), net (Note 17) | (33) | (49) | (89) |
| Income before income taxes | 2,844 | 2,517 | 1,957 |
| Income taxes (Note 9) | 711 | 610 | 470 |
| Net income | 2,133 | 1,907 | 1,487 |
| Basic earnings per common share (Notes 1 and 12) | 4.48 | 3.93 | 3.07 |
| Diluted earnings per common share (Notes 1 and 12) | 4.39 | 3.86 | 3.03 |
| Dividends declared per common share | 1.20 | 1.06 | 0.98 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2011 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending May 31, 2011 10-K (Filed: July 22, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2011 | May 31, 2010 | May 31, 2009 | |
| Cash provided by operations: | |||
| Net income | $ 2,133 | 1,907 | 1,487 |
| Income charges (credits) not affecting cash: | |||
| Depreciation | 335 | 324 | 335 |
| Deferred income taxes | (76) | 8 | (294) |
| Stock-based compensation (Note 11) | 105 | 159 | 171 |
| Impairment of goodwill, intangibles and other assets (Note 4) | 401 | ||
| Amortization and other | 23 | 72 | 48 |
| Changes in certain working capital components and other assets and liabilities excluding the impact of acquisition and divestitures: | |||
| (Increase) decrease in accounts receivable | (273) | 182 | (238) |
| (Increase) decrease in inventories | (551) | 285 | 32 |
| (Increase) decrease in prepaid expenses and other current assets | (35) | (70) | 14 |
| Increase (decrease) in accounts payable, accrued liabilities and income taxes payable | 151 | 297 | (220) |
| Cash provided by operations | 1,812 | 3,164 | 1,736 |
| Cash used by investing activities: | |||
| Purchases of short-term investments | (7,616) | (3,724) | (2,909) |
| Maturities of short-term investments | 4,313 | 2,334 | 1,280 |
| Sales of short-term investments | 2,766 | 453 | 1,110 |
| Additions to property, plant and equipment | (432) | (335) | (456) |
| Disposals of property, plant and equipment | 1 | 10 | 33 |
| Increase in other assets, net of other liabilities | (30) | (11) | (47) |
| Settlement of net investment hedges | (23) | 5 | 191 |
| Cash used by investing activities | (1,021) | (1,268) | (798) |
| Cash used by financing activities: | |||
| Reductions in long-term debt, including current portion | (8) | (32) | (7) |
| Increase (decrease) in notes payable | 41 | (205) | 177 |
| Proceeds from exercise of stock options and other stock issuances | 345 | 364 | 187 |
| Excess tax benefits from share-based payment arrangements | 64 | 58 | 25 |
| Repurchase of common stock | (1,859) | (741) | (649) |
| Dividends - common and preferred | (555) | (505) | (467) |
| Cash used by financing activities | (1,972) | (1,061) | (734) |
| Effect of exchange rate changes | 57 | (47) | (47) |
| Net (decrease) increase in cash and equivalents | (1,124) | 788 | 157 |
| Cash and equivalents, beginning of year | 3,079 | 2,291 | |
| Cash and equivalents, end of year | 1,955 | 3,079 | 2,291 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the year for: | |||
| Interest, net of capitalized interest | 32 | 48 | 47 |
| Income taxes | 736 | 537 | 765 |
| Dividends declared and not paid | 145 | 131 | 121 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
NIKE, INC. | ||
Ticker: NKE Fiscal Year: 2011 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending May 31, 2011 10-K (Filed: July 22, 2011) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| May 31, 2011 | May 31, 2010 | |
| ASSETS | ||
| Current assets: | ||
| Cash and equivalents | $ 1,955 | 3,079 |
| Short-term investments (Note 6) | 2,583 | 2,067 |
| Accounts receivable, net (Note 1) | 3,138 | 2,650 |
| Inventories (Notes 1 and 2) | 2,715 | 2,041 |
| Deferred income taxes (Note 9) | 312 | 249 |
| Prepaid expenses and other current assets | 594 | 873 |
| Total current assets | 11,297 | 10,959 |
| Property, plant and equipment, net (Note 3) | 2,115 | 1,932 |
| Identifiable intangible assets, net (Note 4) | 487 | 467 |
| Goodwill (Note 4) | 205 | 188 |
| Deferred income taxes and other assets (Notes 9 and 17) | 894 | 873 |
| Total assets | 14,998 | 14,419 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Current portion of long-term debt (Note 8) | 200 | 7 |
| Notes payable (Note 7) | 187 | 139 |
| Accounts payable (Note 7) | 1,469 | 1,255 |
| Accrued liabilities (Notes 5 and 17) | 1,985 | 1,904 |
| Income taxes payable (Note 9) | 117 | 59 |
| Total current liabilities | 3,958 | 3,364 |
| Long-term debt (Note 8) | 276 | 446 |
| Deferred income taxes and other liabilities (Notes 9 and 17) | 921 | 855 |
| Commitments and contingencies (Note 15) | ||
| Redeemable Preferred Stock (Note 10) | ||
| Shareholders' equity: | ||
| Common stock at stated value (Note 11): | ||
| Capital in excess of stated value | 3,944 | 3,441 |
| Accumulated other comprehensive income (Note 14) | 95 | 215 |
| Retained earnings | 5,801 | 6,095 |
| Total shareholders' equity | 9,843 | 9,754 |
| Total liabilities and shareholders' equity | 14,998 | 14,419 |
| Class of Stock | ||
| Class A Convertible Common Stock | ||
| Common Stock | ||
| Class B Common Stock | ||
| Common Stock | 3 | 3 |
| External Links | |
| NIKE, INC. (NKE) Fiscal Year 2011 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |